Kukla's Korner Hockey

Ottawa Senators owner Eugene Melnyk says the Ottawa Senators have lost $110 million since he took over the team 10 years ago.

In August, senior team officials told the Citizen that the franchise has generated a grand total of just $6 million on operations (total revenues minus the costs associated with paying and moving the players, advertising and managing the arena).

Melnyk made the comment today on TSN 1200 Ottawa radio and you can listen to the full interview here (comment on lose of $110 is at the 11 minute mark). Melnyk also in a round-about way rips some of the NHL teams on how they handle their finances.

I would love to get a look at the books of the Senators, showing all revenue generated by the team - ticket sales, suite sales, advertising rights, concessions, merchandise, TV rights, parking, - and then subtract the expenses to see where Melnyk stands. Agree with Down River Dan, he wants a casino and will prove to everyone he needs one. To quote from Shakespeare, “the lady doth protest too much, methinks”

What his quote also said it’s that the hockey team pays to manage the arena. Apparently there is nothing else that goes there that generates revenue for him. Concessions and parking go to the arena, whose profits he pockets directly, not to the hockey team. The only ones losing money are the ones who don’t own the arena.